Welcome to the Nexus of Ethics, Psychology, Morality, Philosophy and Health Care

Welcome to the nexus of ethics, psychology, morality, philosophy and health care

Friday, August 8, 2014

Five Key Ethical Issues

By Cynthia SchoemanThe Ethics Monitor
Published in HR Future

Here is an excerpt:

4. The new ROI: return on integrity

Embarking on a path of building an ethical culture is likely to give rise to some challenging questions, such as, ‘Does ethics matter?’ and, ‘Does ethics make good business sense?’. Leaders need to understand and champion the benefits of an ethical culture to ensure that its value is widely recognised.
The benefits include attracting and retaining top employees and board members; greater levels of trust amongst internal and external stakeholders; increased employee engagement and commitment; enhanced loyalty and support from customers and other stakeholders; improved investor and market confidence; and enhanced corporate reputation and brand equity. A strong ethical culture is also a sound defense against misconduct, which serves to reduce the risk of ethical failures and the associated costs and negative consequences.